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Innovation Group CEO resigns

IN BRIEF: Shares advance as Innovation chief executive steps down
November 11, 2009

Hassan Sadiq has stepped down as chief executive of business process outsourcing outfit Innovation Group with immediate effect.

IC TIP: Buy at 12.4p

The group has hired headhunter Russell Reynolds to find a new chief executive and, until a replacement is found, Andy Roberts - currently non-executive chairman - will assume the role of executive chairman. Innovation also reiterated previously announced full-year guidance, confirming that adjusted pre-tax profits will be in line with market expectations, and that cash will be "substantially" ahead.